#recession… China #Corporate $USD #Liquidity #Squeeze edition
Every day it's another Shandong default:
"Xiwang failed to pay a 1 billion Yuan loan on Wed… The latest bond failure triggered cross-default clauses on other bonds, including a 800 million Yuan bond due Thurs" https://t.co/aht79NCSWw— Invariant Perspective (@InvariantPersp1) December 2, 2019
#HK economy is expected to contract by 1.3% in 2019, the first contraction since 2009, said the financial secrtary Paul Chan Mo-po.
HK govt is likely to see its first fiscal deficit in 15 years due to declining tax revenue and land sales revenue, he said.— Y&T Intelligence (@YuanTalks) December 2, 2019
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